China Mengniu Dairy Company Issues Conditional Mandatory General Offer

May 23, 2017

Cleary Gottlieb advised China Modern Dairy Holdings Ltd. (CMD) on the conditional mandatory general offer made by China Mengniu Dairy Company Limited to the shareholders and option holders of CMD for all outstanding shares and options of CMD under the Takeovers Code.

The offer price was HK$1.94 per share, and the offer was valued at approximately HK$6.4 billion. The transaction was completed on March 21, 2017.

CMD primarily engages in the production and sales of raw milk to customers for processing into dairy products and the production and sales of liquid milk products. In terms of herd size, CMD is the largest dairy farming company and the largest raw milk producer in China.